Get It Together, America: We Had Zero Job Creation In August!

Stocks plummeted today as news came out that there were no new jobs in the whole month of August. Bloomberg had anticipated that there would be a 65,000 job increase in the month, but that clearly didn’t happen. Of course, this is more fuel to the fire as all the Republican presidential candidates have jumped out of the woodwork to send shots at Obama for failing to create new jobs.

“The jobs report was just ugly,” Michael Mullaney, a money manager at Fiduciary Trust in Boston, told Bloomberg. “We’ve been watching deceleration of economic activity on a global basis. Does that increase the odds of a recession? It’s a coin toss at this point, 50-50.”

It hasn’t helped that eight out of 10 people think that we’re actually in a recession right now. Of course, this means consumer spending will definitely go down. Basically, we’re all FAWKED. Ta-daaa!

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Comments

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white male

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Steelcitychick

The thing is, to create jobs, companies need an incentive to create them. For the past 6 yrs companies have been laying off people, and making others become more proficient with out the extra employees! They now see that they can get to same jobs done, without the extra man power, therefore, why hire new people when they can be just a productive without them. Job gets done, and the company doesn’t have to pay benefits out to the absent workers……what these companies need are more tax cut incentives to hire more people.